The world’s largest asset management company with more than $ 10 billion in AUM, Blackrock (BLK) plans to list a negotiated Bitcoin Exchange product (ETP) in Europe, Bloomberg reported Wednesday.
The background would be based on Switzerland and Blackrock could start marketing it as soon as this month, according to the report.
This would be the first ETP linked to cryptographic of the giant asset manager outside America. The Ishares ETF (ibit) based in Blackrock, based in Blackrock, has been a wild success, accumulating almost $ 60 billion in assets in just over a year since the opening of business.
The Blackrock movement would be the last one in a series of investment companies that seek to immerse themselves even more to provide values supported by cryptography in Europe. Kraken recently assured a license that will allow him to offer derivatives, joining others such as Bitstamp and FTX EU.
The company’s entry into the European ETP ecosystem could further feed the competitive response that has been seen between several suppliers, which include rates exemptions in various products, some expenses for ETPs have been as high as 2.5 %. In the United States, there was a similar competitive response after these funds were launched in January 2024.
There are still many questioning signs around this product, including the tariff structure, which would have great implications for the performance of the ETP. “I don’t know the rate yet, that will be a great variable,” said Bloomberg’s senior analyst Eric Balchunas. “The US ETF. UU. They display the rest of the world in cost and liquidity, but in any way it shows the commitment of the world’s largest asset manager who has a great presence abroad.”
The US Bitcoin ETF based in the USA.
Blackrock did not comment before the press moment.
